Hi sir/madam
Could some please advise sale of Land Entry
A Land is sold at a price of 10 lacs rs
it's price is 5 lacs rs
Can I account in a proprietor accounts as
Bank 10 lacs
To Land 5 Lacs
To Capital 5 lacs
Please advise
Thanks
Entry is partially correct. You have to book profit on this.
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Gupta Sachdeva & Co. Chartered Accountants
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